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Post by suv on Oct 29, 2008 19:31:17 GMT
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Deleted
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Post by Deleted on Oct 29, 2008 19:49:40 GMT
"Dave Boddy is expected to call an extraordinary general meeting within the next 24 hours."
24 hours. That rings a bell.
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BDS
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Post by BDS on Oct 29, 2008 21:01:06 GMT
If it is confirmed it is good news. It will be the best thing Mr Boddy has done this year.
The matter of who controls our club will be put to the best test of all - a democratic vote. It would be a fool who would pre-judge the outcome of this.
What is needed now is total transparency and the highest standards from the present board.
We need the facts about the ground sale, the deal with St Modwen, the business plan that guarantees that City will have both a new home and a debt free future, the truth about the existing financial situation and we need them in detail in writing and in advance of the meeting.
I see absolutely no reason why the owners of the company cannot be permitted to see the contracts that have been entered into in their name?
I see no reason why the shareholders cannot be trusted to know the detail of how the future of the Club will be guaranteed by the plans of the current Board?
I see no requirement to hide behind "commercial confidentiality" whatever any contract says.
I see no reason why the shareholders cannot know the details of all or any financial arrangements between the current Board and club?
I see every reason to back up any statements or promises made by the current in between now and the meeting with hard evidence and not merely words.
I see every reason for the Board to explain how and why they have let the Club debt grow to existing levels and how they will repay it?
I see every reason for them to explain why the assets in the existing ground are not generating the additional cash flow of which they are capable?
I see every reason for the existing Board to explain how they have managed to lose the services of the former webmaster (who did do it for free as it happens) and club mascot and not replace them?
I see no reason why the up to date audited accounts (to 31 May 2008) cannot be presented to the shareholders in advance of the meeting?
I see no reason why a written statement of the current financial position, approved and signed by each individual Board member, of the Club cannot be made available alongside the latest full accounts?
I see every reason for the Board to identify everyone who benefits from moving to Nunnery Way. In short to disclose fully details of fees and commissions payable and to whom?
I see every reason for each member of the current Board to justify the reason, as individuals, why shareholders should show continuing confidence in them in relation to their existing roles.
I see every reason for the minutes of Board meetings over the last year to be made available for inspection prior to the meeting.
I see every reason for the Board to agree to subject all their dealings to independent review to satisfy the shareholders that what they are being told is the whole truth.
I see every reason for the existing Board to show ultimate faith in their business plan and ability to carry it out by resigning at the start of a General Meeting and offering themselves for re-election
I see these as the minimum requirements we should expect from those who hold the club in trust for all of us.
I see these as tests that must be passed to demonstrate that the existing Board are fit and proper people to run Worcester City Football Club.
If they are passed then I for one will vote for them to carry on running the Club.
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Deleted
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Post by Deleted on Oct 29, 2008 21:24:26 GMT
All excellent points Malcolm. I would also like reasons as to why the auditors were replaced thus causing the accounts to be submitted late. I understand that in such a case the auditors have to submit a report which is then made public. Has such a report been issued? If not why not? And if it has then why has this not been submitted to the shareholders? Where is it?
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Post by suv on Oct 29, 2008 22:29:50 GMT
An "Independent Scrutineer", appointed to count/verify the votes cast/proxy votes would be one of my hopes if an EGM is called.
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BDS
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Post by BDS on Oct 29, 2008 22:46:46 GMT
An "Independent Scrutineer", appointed to count/verify the votes cast/proxy votes would be one of my hopes if an EGM is called. The club auditors would normally be asked to fill that position. |
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wh
Youth Teamer
Posts: 44
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Post by wh on Oct 30, 2008 8:04:31 GMT
It is rumoured that new directors were excluded from key board meetings, in one of which the remaining directors[sic] (and their legal representative) rejected the compromise. I dont know if its true but if it is I would like to know why this was.
Best interest of the club or just the directors?.
Hasnt this whole situation just been dragged out so they can remain in power?
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Post by Tony is not to despondent now. on Oct 30, 2008 9:07:17 GMT
Also their must be some security in place to make sure that only Shareholders are present at the meeting.
At the Shareholders meeting earlier this year, clipboards with forms to sign were there, but no one was checking to ascertain that the persons who were signing were shareholders.
And not everyone present signed those sheets.
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BDS
Squad Member
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Post by BDS on Oct 30, 2008 19:27:39 GMT
Also their must be some security in place to make sure that only Shareholders are present at the meeting. At the Shareholders meeting earlier this year, clipboards with forms to sign were there, but no one was checking to ascertain that the persons who were signing were shareholders. And not everyone present signed those sheets. Fair point. The General Meeting will need to be well regulated or it will have to be re-run. There need to be foolproof safeguards in place to ensure that any poll votes are conducted properly. No small undertaking. The first issue however is the issue of a notice convening the meeting. I wonder if it will be issued as suggested? I wonder.. |
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Post by Tony is not to despondent now. on Oct 31, 2008 8:39:28 GMT
Wasn't the last day yesterday the 30th?
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BDS
Squad Member
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Post by BDS on Oct 31, 2008 10:05:24 GMT
I think something will happen today
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dragon
First Teamer
Posts: 355
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Post by dragon on Oct 31, 2008 11:09:34 GMT
From my experience in business,ALL shareholders for whom the Company holds an up-to-date address must be given proper notice of the meeting together with details of the petition for its calling.Customarily,NO BUSINESS OTHER THAN THAT IN RESPECT OF WHICH NOTICE HAS BEEN GIVEN SHALL BE CONSIDERED. Effectively, this means that depending on the petition,ONLY the vote of confidence in the directors and the appointment of their successors(if the confidence vote goes against the Board)can be covered.The matters Malcolm refers to above would then have to be dealt with at a properly convened AGM>
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Post by tim on Oct 31, 2008 12:17:46 GMT
That's in reference to a normal properly run business though. This is Fred Carno's Circus we are talking about......
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Post by Tony is not to despondent now. on Oct 31, 2008 16:14:04 GMT
It has supposed to have happened. Allegedly notices of the EGM have been posted today by first class post.
Also the AGM is arranged for the same evening before the EGM.
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wh
Youth Teamer
Posts: 44
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Post by wh on Oct 31, 2008 20:28:24 GMT
I have my letter in front of me and I can confirm the EGM has been called for 8:30pm on 28 Nov at County Hall and the AGM for 6:30pm that is before the EGM!
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Post by tim on Oct 31, 2008 22:30:54 GMT
Clever. Have to hand them that. Waste everyone's time......
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Post by Tony is not to despondent now. on Nov 1, 2008 8:47:21 GMT
What an obvious ploy to arrange the AGM at 6.30 p.m.
How inconvenient for people working especially if any of them work out of the city. And the traffic conditions will be terrible.
So perhaps that what the gang of 5 are counting on to enable them to carry on.
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Post by gobby cow on Nov 1, 2008 9:28:14 GMT
Just the sort of planning you expect from Shonky Dave and his gang. Why does he expect the agm to take 2 hours? Surely it should be a simple meeting with approval of the accounts and the directors re elected. Oh I forgot I am thinking of a company that is run properly with transparency for shareholders! With an adverse auditors report on the 2006 accounts I can well understand why the auditors changed. Auditors are now having to prove that companies are a proper going concern before they sign off the accounts at the moment and would you in their position sign off City's?  Dont fret Booby we will be there at 6.30, we have been waiting for this for too long to let you get off the hook that easily. Are we getting the 2008 accounts as well??? |
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Post by suv on Nov 1, 2008 9:41:17 GMT
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Post by birdfeeder on Nov 1, 2008 10:30:28 GMT
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salmon
Reserve Teamer
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Post by salmon on Nov 1, 2008 13:09:22 GMT
Surely they won't re elect the present directors at the AGM?. Will they then 5 mins later hope to boot them out. Lets us see some fresh blood in control, it's the only way forward.
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Deleted
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Post by Deleted on Nov 1, 2008 14:45:11 GMT
"Lets us see some fresh blood in control, it's the only way forward."
Totally agree salmon, but we have to make sure as many shareholders turn out as possible. The board will use every trick in the book to stay in power. In the past they've turned up with block votes and just steam rolled the agms. We have to check their proxy votes carefully - I wouldn't be surprised if a fair few weren't allocated to the long dead - and I don't mean supporters off the Brookside.
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Post by gobby cow on Nov 1, 2008 17:49:07 GMT
I was only on the list to annoy the directors! Are you standing in your own right or as the trust representative Colin?? |
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Post by Tony is not to despondent now. on Nov 1, 2008 18:47:50 GMT
To GC and everyone who is coming from the South or West. Please allow plenty of time to negotiate the Southern bypass it can take anything up to 30 or 40 minutes to get to Wittington from Powick island on a Friday evening.
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Post by suv on Nov 1, 2008 19:40:16 GMT
Well I think some of you should still stand at the AGM, just in case the unthinkable happens at the EGM and the SHAG fail to get the 51% of the votes needed for change. |
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BDS
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Post by BDS on Nov 1, 2008 23:30:13 GMT
From my experience in business,ALL shareholders for whom the Company holds an up-to-date address must be given proper notice of the meeting together with details of the petition for its calling.Customarily,NO BUSINESS OTHER THAN THAT IN RESPECT OF WHICH NOTICE HAS BEEN GIVEN SHALL BE CONSIDERED. Effectively, this means that depending on the petition,ONLY the vote of confidence in the directors and the appointment of their successors(if the confidence vote goes against the Board)can be covered.The matters Malcolm refers to above would then have to be dealt with at a properly convened AGM> The words in capitals are very relevant. Wait and see! Most of the matters I refer to should have been dealt with a long time ago and should certainly be dealt before any General Meeting of the shareholders. Interesting that GC refers to the approval of the accounts. I wonder if they will be approved? TJ got it right again with one minor exception. Fred Carno was an honest businessman running entertainment and generating laughter. The present board may be acting like clowns but but no one is laughing and it is certainly not entertaining. The only question that really remains is how close to ruin will the club (the company) be before they finally depart? |
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Post by Tony is not to despondent now. on Nov 2, 2008 9:01:09 GMT
From my experience in business,ALL shareholders for whom the Company holds an up-to-date address must be given proper notice of the meeting together with details of the petition for its calling.Customarily,NO BUSINESS OTHER THAN THAT IN RESPECT OF WHICH NOTICE HAS BEEN GIVEN SHALL BE CONSIDERED. Effectively, this means that depending on the petition,ONLY the vote of confidence in the directors and the appointment of their successors(if the confidence vote goes against the Board)can be covered.The matters Malcolm refers to above would then have to be dealt with at a properly convened AGM> The words in capitals are very relevant. Wait and see! Most of the matters I refer to should have been dealt with a long time ago and should certainly be dealt before any General Meeting of the shareholders. Interesting that GC refers to the approval of the accounts. I wonder if they will be approved? TJ got it right again with one minor exception. Fred Carno was an honest businessman running entertainment and generating laughter. The present board may be acting like clowns but but no one is laughing and it is certainly not entertaining. The only question that really remains is how close to ruin will the club (the company) be before they finally depart? Perhaps when the Administrators move in!!!! |
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